Saudi Arabia-based artificial intelligence startup Lucidya secured $30 million in Series B funding, establishing a record for the largest AI investment across the Middle East and North Africa region. Impact46 spearheaded the financing round with participation from Wa'ed Ventures, Takamol Ventures, and SparkLabs. Existing backers Rua Growth Fund and ARG increased their stakes in the customer experience management platform. Minister of Communications and Information Technology Abdullah Alswaha visited the company's Riyadh headquarters to congratulate leadership on the milestone. The eight-year-old enterprise serves clients across 11 countries through its proprietary Arabic language processing technology.
Lucidya operates a customer experience platform that achieves 92 percent accuracy in Arabic language analysis. The company supports over 75 million end users through partnerships with telecommunications, banking, hospitality, healthcare and government organizations. Management plans to expand their AI agent capabilities using the fresh capital. The regional customer relationship management software market approaches $9 billion in projected value by 2030. Founder Abdullah Asiri launched the venture during 2016 when artificial intelligence attracted minimal corporate attention.
Lucidya operates a customer experience platform that achieves 92 percent accuracy in Arabic language analysis. The company supports over 75 million end users through partnerships with telecommunications, banking, hospitality, healthcare and government organizations. Management plans to expand their AI agent capabilities using the fresh capital. The regional customer relationship management software market approaches $9 billion in projected value by 2030. Founder Abdullah Asiri launched the venture during 2016 when artificial intelligence attracted minimal corporate attention.
